ARTICLE AD BOX
💹 “Iraqi Banks Open Up: Sanctions Easing and Investment Opportunities Growing” 💹
✨ HIGHLIGHTS SUMMARY
🇮🇶 Banking openness on the rise: Economic expert Manar al-Obeidi notes Iraq is entering a phase of greater financial transparency and accessibility, making it more attractive for investors.
💰 Flow of funds improving: Reforms are expected to facilitate investment and smoother money transfers, benefiting both local and international stakeholders.
🇺🇸 Sanctions impact diminishing: The Iraqi government has resolved most financial issues with the U.S., so sanctions’ effects are gradually decreasing.
⚖️ Institutional reform needed: Overlapping jurisdictions among institutions remain a challenge. Granting broader powers to investment authorities is crucial to ensure clear, efficient investment plans.
🔍 Caveat: If Iraq fails to address the PMF issue, U.S. sanctions could still be imposed, potentially delaying economic progress.
🌟 Positive outlook: With transparency reforms, anti-money-laundering measures, and streamlined governance, Iraq’s banking sector is poised to unlock investment opportunities and stronger economic growth.
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AN ECONOMIST SAYS US SANCTIONS ARE ON THEIR WAY OUT AND IRAQI BANKS ARE ENTERING A PHASE OF OPENNESS.
(Mnt Goat: not if Iraq does not deal with the PMF, the US is likely to impose some sort of sanctions of Iraq if the PMF is not handled correctly.)
Anticipated financial breakthrough
Economic expert Manar al-Obeidi affirmed that Iraq is moving towards greater banking openness, which will facilitate the flow of funds and create a more attractive environment for investors. He noted that the government has successfully addressed most of the financial issues with the United States, which will gradually reduce the impact of sanctions. Al-Obeidi emphasized the need to eliminate overlapping jurisdictions among institutions and grant investment authorities broader powers to ensure a clear plan that supports economic development.
Manar Al-Obaidi – an economic expert, in a dialogue with journalist Ali Qazan:
The Iraqi banking sector is moving towards greater openness to the world, away from the problems and difficulties that were occurring, and I believe that this will be positive in terms of investment and money transfers.
The significant overlap in powers between institutions is one of the biggest challenges facing investors. Therefore, this problem and overlap must be addressed, and broader powers must be granted to investment authorities in the governorate, and there must be a clear plan for investment in Iraq.
The Iraqi government has been able to resolve many of the financial issues with the American side. With the reforms that Iraq has undertaken to enhance transparency and prevent money laundering and smuggling, I expect that over time the impact of the American sanctions will largely disappear.
English (US) ·